Poland’s warehouse market recorded the third-best result in history in terms of demand. In 2025, lease agreements covered 6.6 million sq m of space, according to the latest CBRE data. New development activity was the lowest seen in eight years, and the amount of space available for rent is shrinking. CBRE experts say that in the coming months we can expect a further decline in vacancy levels.
“We closed 2025 in the warehouse market with a result close to a record. Demand reached 6.6 million sq m, which is the third-best result in history, and we also performed very strongly in Europe—where we rank second after Germany in net take-up. This was supported, among other factors, by a strong final quarter, when 2.2 million sq m was leased. At the same time, the volume of space under construction has remained moderate for seven quarters and does not exceed 2 million sq m. The outlook for 2026 remains moderately optimistic, with a growing number of client enquiries, which could contribute to a further revival in demand and even lower vacancy rates,” says Michał Śniadała, Head of Industrial & Logistics at CBRE.
Across 2025 as a whole, 52% of demand came from lease renewals, 41% from new leases, and 7% from expansions. The demand structure also reflects large lease deals—the average transaction size in 2025 was 7,850 sq m. Logistics and retail companies were particularly active. The highest demand was recorded in the Mazowieckie region, which also has one of the lowest availability levels—vacancy stands at 4% (outside Warsaw). The strongest year-on-year increases in demand were observed in the Szczecin area and Upper Silesia.
Limited development activity
In the fourth quarter of 2025, construction began on 444,000 sq m of new warehouse space—as much as three times less than during the pandemic. Around 60% of the total pipeline under construction has already been secured with lease agreements. Overall, space under construction remains below 2 million sq m, and the coming quarters point to a continuation of this trend.
The vacancy rate is declining and currently stands at 7.4%. This is only 0.1 percentage points lower than a year earlier, but the drop compared with the third quarter amounted to 0.8 percentage points. In addition, CBRE notes a decline in the volume of space offered for sublease across Poland. With limited new supply and persistently high demand, further—and more visible—declines in vacancy are expected in the next quarters.
